Stock Market LIVE Updates: Sensex, Nifty marginally down at open; KEC Int'l up 6%, P&G Hygiene falls
Stock Market LIVE Updates: While the Indian market was likely to be weighed down by global cues, investors here would also have their eyes peeled for the Mukesh Ambani-led RIL's AGM.
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Photo: Bloomberg
Stock Market LIVE Updates, Thursday, August 29, 2024: The Indian benchmark indices BSE Sensex and Nifty 50 opened in the red on Thursday, tracking weakness in the overnight US market following Nvidia's results.
At opening bell, the BSE Sensex was down 0.08 per cent at 81,717, while the Nifty 50 was at 25,023, down 0.11 per cent.
Meanwhile, investors in the domestic market would also have their eyes peeled for the Mukesh Ambani-led Reliance Industries Annual General Meeting, scheduled for today afternoon.
Global equity markets eased while the US dollar rebounded on Wednesday. However, chipmaker Nvidia's better-than-expected results failed to impress some investors and the company's stock fell 7 per cent in extended trading.
Wall Street's main indexes finished lower. The Dow Jones Industrial Average fell 0.39 per cent to 41,091.42, the S&P 500 lost 0.60 per cent to 5,592.18 and the Nasdaq Composite lost 1.12 per cent to 17,556.03.
Europe's benchmark STOXX index climbed 0.33 per cent while Japanese stocks closed 0.22 per cent higher. MSCI's gauge of all stocks across the globe was 0.42 per cent lower at 827.32.
Nvidia's third-quarter revenue forecast of $32.5 billion surpassed Wall Street estimates after markets closed. The report still failed to impress the most bullish investors who have driven a dizzying rally in its shares as they bet billions on the future of generative artificial intelligence. Shares of the Santa Clara, California-based company fell 3 per cent in extended trading.
Asia-Pacific markets fell on Thursday, tracking losses on Wall Street as investors assess results from tech giant Nvidia.
Investors in Asia will watch for any spillover to tech stocks in the region, which is home to companies along Nvidia’s value chain like Taiwan Semiconductor Manufacturing Company and SK Hynix.
South Korean chip heavyweight SK Hynix plunged 6 per cent on its open, while Samsung Electronics fell more than 3 per cent, dragging the Kospi down 1.3 per cent. The small-cap Kosdaq was down 0.55 per cent.
Japan’s Nikkei 225 dropped 0.56 per cent, while the broad based Topix was down 0.14 per cent. Australia’s S&P/ASX 200 was down 0.47 per cent.
Hong Kong Hang Seng index futures were at 17,648, lower than the HSI’s last close of 17,692.45.
A preliminary estimate of second quarter US gross domestic product is due on Thursday. The Fed's preferred inflation measure - the core personal consumption expenditures (PCE) index - will be released on Friday.
Markets, which are fully priced for a 25 basis point US interest rate cut next month, see just over 100 basis points of easing by the end of the year.
Gold prices were hurt by the stronger US dollar with spot gold lost 0.68 per cent to $2,507.50 an ounce, and US gold futures settled 0.6 per cent lower at $2,537.80.
Oil prices fell on concerns about Chinese demand and risks of a broader slowdown. Brent crude futures settled down 1.13 per cent at $78.65 a barrel. US West Texas Intermediate crude futures fell 1.34 per cent to $74.52.
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Stock Market LIVE Updates: NLC India up 3.3% after co. signs power sage deal with Telangana state discom
Stock Market LIVE Updates: State-owned NLC India has signed a 25-year power usage agreement with Telangana state discoms for 200 MW of solar energy under the central public sector undertaking scheme.
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Stock Market LIVE Updates: Sonata Software up 4% after company bags multi-billion dollar deal
Stock Market LIVE Updates: The company has secured a multi-million dollar IT outsourcing contract from a US-based premier healthcare and wellness company.
The collaboration focuses on optimizing IT budgets and modernizing technology landscape.
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Stock Market LIVE Updates: Paytm up 2.5% after Paytm Payments gets govt. approval for investment from One 97
Stock Market LIVE Updates : Paytm Payments Services (PPSL) has received the finance ministry’s approval for ‘downstream investment’ from One 97 Communications.
PPSL, a wholly owned subsidiary of One 97 Communications, will now resubmit its payment aggregator (PA) application.
PPSL, a wholly owned subsidiary of One 97 Communications, will now resubmit its payment aggregator (PA) application.
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Stock Market LIVE Updates : KEC International up more than 6% after company bags orders worth Rs 1,171 crore
Stock Market LIVE Updates : Infrastructure company KEC International bagged new orders worth Rs 1,171 crore in its Transmission and Distribution business, including constructing transmission lines in the UAE and Saudi Arabia.
9:25 AM
Stock Market LIVE Updates: Sector Check
Stock Market LIVE Updates: Nifty Media was the top gainer while Nifty Metal was the top laggard.
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Stock Market LIVE Updates: Broader markets mixed
Stock Market LIVE Updates: Nifty SmallCap gains 0.14 per cent while MidCap slips 0.06 per cent.
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Stock Market LIVE Updates: Index heatmap check
Stock Market LIVE Updates: NTPC, Bajaj Finserv among top gainers.
9:19 AM
Opening bell: Nifty50 falls marginally
Stock Market LIVE Updates: Nifty falls 0.1 per cent to 25,026 levels.
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Opening Bell: Sensex opens in negative territory
Stock Market LIVE Updates: Sensex drops 72 points ot 0.09 per cent to 81,713.71 levels.
9:09 AM
Stock Market LIVE Updates: Nifty falls marginally in pre-open
Stock Market LIVE Updates: Nifty drops 0.07 per cent or 17 points to 25,035.30 levels.
9:08 AM
Stock Market LIVE Updates: Sensex rises marginally in pre-open
Stock Market LIVE Updates: Sensex rose 37 points or 0.05 per cent higher to 81,822.56 levels in pre-open.
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'Weak global cues & consequent weak openings have proved to be opportunities to buy in domestic market'
Stock Market LIVE Updates: Weak global cues and the consequent weak openings have proved to be opportunities to buy in the domestic market. This pattern may persist. A significant feature of the near-term market trend is that it is resilient and steadily moving up without sharp spurts thereby preventing a spike in valuations in the largecap category.
The recent accumulation of IT stocks stems from the confidence that the soft landing scenario in the US economy will lead to execution of the orders on which the IT companies have been sitting for some time now.
The recent accumulation of IT stocks stems from the confidence that the soft landing scenario in the US economy will lead to execution of the orders on which the IT companies have been sitting for some time now.
SEBI’s advisory to investors to be vigilant in investment in SME stocks is timely. Investors should heed the warning from the regulator that many SMEs are “projecting an unrealistic picture of their operations.”
The largecap segment is safe without euphoria. But the SME segment is certainly in risky euphoric territory.
Views by: V K Vijayakumar, chief investment strategist, Geojit Financial Services.
Views by: V K Vijayakumar, chief investment strategist, Geojit Financial Services.
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Filing: JSW Energy unit bags award from MSEDCL
Stock Market LIVE Updates: JSW Energy arm, JSW Neo Energy, bags Letter of Award (LoA) award from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for 200 MW Wind-Solar Hybrid Power Project.
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Stock Market LIVE Updates: MFs, AIFs to gain higher weight in family office portfolios, says report
Stock Market LIVE Updates: Family office portfolios are expected to increase their allocation towards products like alternative investment funds (AIFs), mutual funds (MFs), and portfolio management services (PMS) in the coming years, while trimming their fixed income and real estate exposure, Sundaram Alternates said in a report on Wednesday. READ MORE
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Stock Market LIVE Updates: Yelp sues Google in wake of antitrust ruling on monopolising search
Stock Market LIVE Updates: Online review site Yelp Inc. filed a lawsuit alleging that Google has illegal monopoly power in local search, in a sign of the legal headaches that may await the search giant following the US government’s landmark antitrust victory against the company. READ MORE
Topics : MARKET LIVE RIL AGM MARKETS TODAY Markets Sensex Nifty Domestic markets Sensex and Nifty sensex nifty Sensex new high Sensex gains Gift Nifty Nifty stocks Nifty50 Nifty Outlook BSE NSE BSE NSE equity MARKETS LIVE Reliance Industries
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First Published: Aug 29 2024 | 7:10 AM IST
